There is not much that can be added to this story from a lowly blogger like myself. But I can give you some sources that provide more details into what has transpired over the past 3 days.

FACEBOOK Stock has been trading at $32.00-32.78 all day. It is up from its close of $30.00 yesterday.

If you did not see it Monday, there is a great info graphic that allows you to track the stock price.

Remember Jim Cramer from CNBC?

I hope The Daily Show picks up on this one. Here is a classic quote from a guy that should not be on television:

Any investor who can get shares of the Facebook IPO should purchase as many shares as possible, Jim Cramer said on CNBC’s “Mad Money.”

-Mad Money, CNBC

Aswath Damodaran, NYU’s legendary finance professor who has nailed other stock valuations, has his say on Facebook

In a nutshell, it is overpriced and a risky investment. He is not buying yet, unless he can get it at value.

Last but not least, there are numerous reports everywhere about lawsuits that may be pending against Facebook and Morgan Stanley. Facebook’s response to all of it, “There is no basis for the accusations.” (unless you are blind to the data).

Dealbook reports on pending litigation

Dealbook reported pretty extensively everything that has happened over the course of the past 3 days.

Atlantic Wire scolds us to say, “We Should Have Known About Facebook’s Shady IPO.”

Their article takes us through all the warning signs. Most significant, the bad data was for institutional investors. The ignored data was for the “muppets.”

Unsourced quote from Business Insider, but an insight to Wall street thinking: “The one thing we worried about most ahead of the Facebook IPO was that normal people – “Muppets” they are increasingly called on Wall Street – would gamble on a big pop and lose after getting played by the pros.”

So, why track all of this?

It’s about trust. Ironically, a former Morgan Stanley employee told me during Enron that it was the biggest event to happen outside of 9/11. Enron destroyed the investor trust. The rating agencies were giving them a thumbs up when they were always a thumbs down investment. He said Enron would have major repercussions for the market. He seems to be right. Market manipulation is obviously pretty common now.

If we are going to preach free markets and let the market decide. Facebook’s IPO should have been allowed to let the market decide. I think most people will agree that its value is far less than 28-year-old Mark Zuckerberg would like you to believe.

Now I understand the Occupy Wall Street movement a little better.